Watch Out, These Billionaires Could Buy Your City

The coronavirus pandemic has begun to drag down the global economy, and it’s hard to know when the crisis will pass. Although things are sure to recover, during the slowdown, many cities and individuals are going to struggle. The good news is that America is a country of incredible wealth. In fact, some of this country’s wealthiest billionaires have enough money to effectively “buy” numerous American cities by paying off all of their debt. 

To see just how much America’s billionaires could theoretically help out, GOBankingRates conducted a study comparing the wealth of the richest Americans with the debt held by America’s 75 most populous cities. The net worth of the top 25 billionaires was matched with cities whose unfunded expenses could be settled by the corresponding billionaire’s net worth. After a city was added to a billionaire’s list, its total debt was subtracted from their net worth. Then, the city with the next-highest debt totaling less than the billionaire’s remaining net worth was added. 

Some surprising results emerged from this comparison. For example, the wealthiest man in the world, Jeff Bezos, could pay off the outstanding debt of a whopping 22 major cities. Bill Gates is in a similar boat. Mark Zuckerberg, the youngest billionaire on the list, could also help bail out some of his neighboring cities in California; the 35-year-old’s Facebook empire has pushed his net worth near $70 billion.

Even though Gates and Bezos each have a net worth above $100 billion, there isn’t a single billionaire in America that could pay off the entire debt of the most-indebted city on the list, New York. With outstanding obligations currently topping $186 billion, it would take nearly the entire net worth of Bezos and Gates together to satisfy that bill. Even a conglomerate of billionaires No. 18 through No. 25 on the list, from Michael Dell to Leonard Lauder, would barely have enough to pay off New York’s enormous debt.

Although this list is more of an academic exercise than an actual blueprint — no billionaire could actually “buy” a city just by paying off its outstanding debt — it is a great way to understand the vast wealth that some of America’s billionaires possess. Viewed another way, this means that each of the billionaires on this list could theoretically afford to start their own major city with no debt at all if they were willing to part with a chunk of their net worth.

Last updated: Aug. 25, 2020

Leonard Lauder

• Net worth: $18,800,000,000
  
• Age: 82
• Source of wealth: Estee Lauder

Living in America: The Cost of Living Is Quickly Rising in These 20 US Cities

How Many Cities He Could Buy: 3

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 75.44%
• Portland, Oregon
  • Debt: $4,133,346,000
    
  • Debt as a percentage of his wealth: 21.99%
• San Antonio
  • Debt: $480,623,000
  • Debt as a percentage of his wealth: 2.56%

Rupert Murdoch & Family

• Net worth: $19,100,000,000
  
• Age: 88
• Source of wealth: Newspapers, TV network

How Many Cities He Could Buy: 3

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 74.26%
• Portland, Oregon
  • Debt: $4,133,346,000
    
  • Debt as a percentage of his wealth: 21.64%
• El Paso, Texas
  • Debt: $773,057,000
  • Debt as a percentage of his wealth: 4.05%

Elon Musk

• Net worth: $19,900,000,000
  
• Age: 48
• Source of wealth: Tesla Motors, SpaceX

How Many Cities He Could Buy: 3

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 71.27%
• Los Angeles
  • Debt: $5,307,747,000
  • Debt as a percentage of his wealth: 26.67%
    
• Toledo, Ohio
  • Debt: $392,024,000
  • Debt as a percentage of his wealth: 1.97%

See: 35 Cities Where You Can Afford To Live on Less Than $50,000

Laurene Powell Jobs & Family

• Net worth: $21,300,000,000
  
• Age: 55
• Source of wealth: Apple, Disney

How Many Cities She Could Buy: 5

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of her wealth: 66.59%
• Los Angeles
  • Debt: $5,307,747,000
    
  • Debt as a percentage of her wealth: 24.92%
• Denver
  • Debt: $1,703,783,000
  • Debt as a percentage of her wealth: 8.00%

Other cities: Long Beach, California ($71,579,000; 0.34%), Corpus Christi, Texas ($24,867,000; 0.12%)

Jim Simons

• Net worth: $21,600,000,000
  
• Age: 81
• Source of wealth: Hedge funds

How Many Cities He Could Buy: 3

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 65.66%
• Los Angeles
  • Debt: $5,307,747,000
    
  • Debt as a percentage of his wealth: 24.57%
• San Diego
  • Debt: $2,094,226,000
  • Debt as a percentage of his wealth: 9.70%

John Mars

• Net worth: $29,700,000,000
  
• Age: 84
• Source of wealth: Candy, pet food

How Many Cities He Could Buy: 5

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 47.76%
• Houston
  • Debt: $7,906,527,000
    
  • Debt as a percentage of his wealth: 26.62%
• Los Angeles
  • Debt: $5,307,747,000
    
  • Debt as a percentage of his wealth: 17.87%

Other cities: San Diego ($2,094,226,000; 7.05%), Chula Vista, California ($203,869,000; 0.69%)

Jacqueline Mars

• Net worth: $29,700,000,000
  
• Age: 80
• Source of wealth: Candy, pet food

How Many Cities She Could Buy: 5

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of her wealth: 47.76%
• Houston
  • Debt: $7,906,527,000
    
  • Debt as a percentage of her wealth: 26.62%
• Los Angeles
  • Debt: $5,307,747,000
  • Debt as a percentage of her wealth: 17.87%

Other cities: San Diego ($2,094,226,000; 7.05%), Chula Vista, California ($203,869,000; 0.69%)

Michael Dell

• Net worth: $32,300,000,000
  
• Age: 54
• Source of wealth: Dell computers

How Many Cities He Could Buy: 6

• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 43.91%
• Houston
  • Debt: $7,906,527,000
    
  • Debt as a percentage of his wealth: 24.48%
• Los Angeles
  • Debt: $5,307,747,000
  • Debt as a percentage of his wealth: 16.43%

Other cities: Portland, Oregon ($4,133,346,000; 12.80%), Memphis, Tennessee ($743,859,000; 2.30%), Corpus Christi, Texas ($24,867,000; 0.08%)

Sheldon Adelson

• Net worth: $34,500,000,000
  
• Age: 86
• Source of wealth: Casinos

How Many Cities He Could Buy: 2

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 99.76%
• Long Beach, California
  • Debt: $71,579,000
    
  • Debt as a percentage of his wealth: 0.21%

Phil Knight & Family

• Net worth: $35,900,000,000
  
• Age: 81
• Source of wealth: Nike

How Many Cities He Could Buy: 3

• Chicago
  
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 95.87%
• St. Louis
  • Debt: $1,406,741,000
    
  • Debt as a percentage of his wealth: 3.92%
• Long Beach, California
  • Debt: $71,579,000
  • Debt as a percentage of his wealth: 0.20%

MacKenzie Bezos

• Net worth: $36,100,000,000
  
• Age: 49
• Source of wealth: Amazon

How Many Cities She Could Buy: 3

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of her wealth: 95.34%
• Cincinnati
  • Debt: $1,655,829,000
    
  • Debt as a percentage of her wealth: 4.59%
• Corpus Christi, Texas
  • Debt: $24,867,000
  • Debt as a percentage of her wealth: 0.07%

Julia Koch & Family

• Net worth: $41,000,000,000
  
• Age: 57
• Source of wealth: Koch Industries

How Many Cities She Could Buy: 4

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of her wealth: 83.95%
• Los Angeles
  • Debt: $5,307,747,000
    
  • Debt as a percentage of her wealth: 12.95%
• Omaha, Nebraska
  • Debt: $1,155,099,000
  • Debt as a percentage of her wealth: 2.82%

Other cities: Long Beach, California ($71,579,000; 0.17%)

Charles Koch

• Net worth: $41,000,000,000
  
• Age: 83
• Source of wealth: Koch Industries

Check Out: The Cost of Living Is Quickly Rising in These 20 US Cities

How Many Cities He Could Buy: 4

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 83.95%
• Los Angeles
  • Debt: $5,307,747,000
    
  • Debt as a percentage of his wealth: 12.95%
• Omaha, Nebraska
  • Debt: $1,155,099,000
  • Debt as a percentage of his wealth: 2.82%

Other cities: Long Beach, California ($71,579,000; 0.17%)

Rob Walton

• Net worth: $51,300,000,000
  
• Age: 75
• Source of wealth: Walmart

How Many Cities He Could Buy: 3

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 67.09%
• Philadelphia
  
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 27.65%
• Phoenix
  • Debt: $2,695,966,000
  • Debt as a percentage of his wealth: 5.26%

Alice Walton

• Net worth: $51,400,000,000
  
• Age: 70
• Source of wealth: Walmart

How Many Cities She Could Buy: 3

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of her wealth: 66.96%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of her wealth: 27.59%
• Milwaukee
  • Debt: $2,782,768,000
  • Debt as a percentage of her wealth: 5.41%

Jim Walton

• Net worth: $51,600,000,000
  
• Age: 71
• Source of wealth: Walmart

How Many Cities He Could Buy: 4

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 66.70%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 27.49%
• Milwaukee
  • Debt: $2,782,768,000
  • Debt as a percentage of his wealth: 5.39%

Other cities: Orlando, Florida ($213,375,000; 0.41%)

Steve Ballmer

• Net worth: $51,700,000,000
  
• Age: 63
• Source of wealth: Microsoft

How Many Cities He Could Buy: 4

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 66.57%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 27.43%
• Milwaukee
  • Debt: $2,782,768,000
  • Debt as a percentage of his wealth: 5.38%

Other cities: Minneapolis ($310,098,000; 0.60%)

Michael Bloomberg

• Net worth: $53,400,000,000
  
• Age: 77
• Source of wealth: Bloomberg LP

How Many Cities He Could Buy: 5

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 64.45%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 26.56%
• Portland, Oregon
  • Debt: $4,133,346,000
  • Debt as a percentage of his wealth: 7.74%

Other cities: Santa Ana, California ($587,312,000; 1.10%), Long Beach, California ($71,579,000; 0.13%)

Sergey Brin

• Net worth: $53,500,000,000
  
• Age: 46
• Source of wealth: Google

How Many Cities He Could Buy: 4

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 64.33%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 26.51%
• Portland, Oregon
  • Debt: $4,133,346,000
  • Debt as a percentage of his wealth: 7.73%

Other cities: Memphis, Tennessee ($743,859,000; 1.39%)

Larry Page

• Net worth: $55,500,000,000
  
• Age: 46
• Source of wealth: Google

How Many Cities He Could Buy: 5

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 62.01%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 25.56%
• Los Angeles
  • Debt: $5,307,747,000
  • Debt as a percentage of his wealth: 9.56%

Other cities: Indianapolis ($985,831,000; 1.78%); Santa Ana, California ($587,312,000; 1.06%)

Larry Ellison

• Net worth: $65,000,000,000
  
• Age: 75
• Source of wealth: Software

How Many Cities He Could Buy: 6

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 52.95%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 21.82%
• Houston
  • Debt: $7,906,527,000
  • Debt as a percentage of his wealth: 12.16%

Other cities: Los Angeles ($5,307,747,000; 8.17%), Milwaukee ($2,782,768,000; 4.28%), Toledo, Ohio ($392,024,000; 0.60%)

Mark Zuckerberg

• Net worth: $69,600,000,000
  
• Age: 35
• Source of wealth: Facebook

Did You Know? 25 Cities Where the Middle Class Is Thriving

How Many Cities He Could Buy: 7

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 49.45%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 20.38%
• Houston
  • Debt: $7,906,527,000
  • Debt as a percentage of his wealth: 11.36%

Other cities: Los Angeles ($5,307,747,000; 7.63%), San Francisco ($4,960,605,000; 7.13%), Milwaukee ($2,782,768,000; 4.00%), Corpus Christi, Texas ($24,867,000; 0.04%)

Warren Buffett

• Net worth: $80,800,000,000
  
• Age: 89
• Source of wealth: Berkshire Hathaway

How Many Cities He Could Buy: 10

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 42.60%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 17.55%
• Houston
  • Debt: $7,906,527,000
  • Debt as a percentage of his wealth: 9.79%

Other cities: Los Angeles ($5,307,747,000; 6.57%), San Francisco ($4,960,605,000; 6.14%), Portland, Oregon ($4,133,346,000; 5.12%), Nashville, Tennessee ($3,811,112,000; 4.72%), Dallas ($3,706,258,000; 4.59%), San Diego ($2,094,226,000; 2.59%), St. Paul, Minnesota ($271,745,000; 0.34%)

Bill Gates

• Net worth: $106,000,000,000
  
• Age: 64
• Source of wealth: Microsoft

How Many Cities He Could Buy: 18

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 32.47%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 13.38%
• Houston
  • Debt: $7,906,527,000
  • Debt as a percentage of his wealth: 7.46%

Other cities: Los Angeles ($5,307,747,000; 5.01%), San Francisco ($4,960,605,000; 4.68%), Portland, Oregon ($4,133,346,000; 3.90%), Nashville, Tennessee ($3,811,112,000; 3.60%), Dallas ($3,706,258,000; 3.50%), Baltimore ($3,524,154,000; 3.32%), Honolulu ($3,295,446,000; 3.11%), Fort Worth, Texas ($3,225,470,000; 3.04%), San Jose, California ($3,195,707,000; 3.01%), Milwaukee ($2,782,768,000; 2.63%), Boston ($2,757,395,000; 2.60%), Phoenix ($2,695,966,000; 2.54%), Oakland, California ($2,626,918,000; 2.48%), Jacksonville, Florida ($2,506,629,000; 2.36%), Austin, Texas ($947,273,000; 0.89%)

Jeff Bezos

• Net worth: $114,000,000,000
  
• Age: 55
• Source of wealth: Amazon

How Many Cities He Could Buy: 22

• Chicago
  • Debt: $34,418,150,000
    
  • Debt as a percentage of his wealth: 30.19%
• Philadelphia
  • Debt: $14,183,585,000
    
  • Debt as a percentage of his wealth: 12.44%
• Houston
  • Debt: $7,906,527,000
  • Debt as a percentage of his wealth: 6.94%

Other cities: Los Angeles ($5,307,747,000; 4.66%), San Francisco ($4,960,605,000; 4.35%), Portland, Oregon ($4,133,346,000; 3.63%), Nashville, Tennessee ($3,811,112,000; 3.34%), Dallas ($3,706,258,000; 3.25%), Baltimore ($3,524,154,000; 3.09%), Honolulu ($3,295,446,000; 2.89%), Fort Worth, Texas ($3,225,470,000; 2.83%), San Jose, California ($3,195,707,000; 2.80%), Milwaukee ($2,782,768,000; 2.44%), Boston ($2,757,395,000; 2.42%), Phoenix ($2,695,966,000; 2.36%), Oakland, California ($2,626,918,000; 2.30%), Jacksonville, Florida ($2,506,629,000; 2.20%), San Diego ($2,094,226,000; 1.84%), New Orleans ($2,003,743,000; 1.76%), Denver ($1,703,783,000; 1.49%), Cincinnati ($1,655,829,000; 1.45%), Columbus, Ohio (1.31%)

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About the Author

John Csiszar

After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.

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